SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 169 Joint and several liability of directors of corporate trustee liable to administrative penalty under section 166
SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 169
Joint and several liability of directors of corporate trustee liable to administrative penalty under section 166(1) This section applies if a trustee of a self managed superannuation fund:
(a) is liable to an administrative penalty imposed by section 166; and
(2) The directors of the body corporate at the time it becomes
liable to the penalty are jointly and severally liable to pay the amount of
the penalty.